Mortgaging the future

"....In other words, we're mortgaging our future to pay for today's "cheap" purchases! By using the dollars they collect to buy our debt, the Chinese are putting themselves in position to exert significant control over our economy....."

WASHINGTON -- U.S. Treasury Secretary Henry Paulson offered a sobering view Tuesday of the pressure the housing market was having across the country, saying the decline stood "as the most significant current risk to our economy...."